{"id":6896,"date":"2023-05-11T15:12:09","date_gmt":"2023-05-11T15:12:09","guid":{"rendered":"https:\/\/www.icsr.co.uk\/?post_type=project&p=6896"},"modified":"2023-05-11T15:39:08","modified_gmt":"2023-05-11T15:39:08","slug":"assisting-international-insurer-with-authorisation-and-operating-model-development","status":"publish","type":"project","link":"https:\/\/www.icsr.co.uk\/project\/assisting-international-insurer-with-authorisation-and-operating-model-development\/","title":{"rendered":"Assisting International Insurer With Authorisation And Operating Model Development"},"content":{"rendered":"

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Assisting International Insurer With Authorisation And Operating Model Development<\/h1>\n

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The Client\u2019s Needs<\/strong><\/p>\n

The client is an international insurer specialising in the development of tailor-made digital insurance solutions distributed by its distribution partners, insurance professionals (broker & InsurTech) as well as non-professionals (start-up & retailers). It is a technology led business with highly innovative solutions designed to streamline the insurance distribution process for the benefit of its partners and the end customers. It had been operating in the UK under the TPR and wished to seek full authorisation. ICSR were engaged to assist with the authorisation application, including helping the client ensure that it was operationally \u201cready\u201d at the time the PRA was ready to authorise it.<\/p>\n

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ICSR\u2019s Solution<\/strong><\/p>\n

ICSR undertook a high-level review of the clients readiness for all functions from Actuarial to Underwriting via compliance, Co Sec, governance, HR, finance, risk, reinsurance, IT etc and mapped at a high level the areas of responsibility and activities of each function and each member of the UK senior management team. This exercise was undertaken in order to develop and document the appropriate Governance and operating models as a part of its application for authorisation.<\/p>\n

Once that work was complete, ICSR was able to:<\/p>\n